Takeda seals $1.2 billion oncology deal with Innovent Biologics

Takeda will pay Innovent US$1.2 billion upfront, including a US$100 million equity investment in Innovent

Global pharma major Takeda has officially closed its license and collaboration agreement with Innovent Biologics, following the fulfillment of all closing conditions. The partnership, first announced on October 21, 2025, marks a major step in Takeda’s global oncology strategy.

Under the agreement, Takeda acquires rights to two late-stage investigational cancer therapies—IBI363 and IBI343—worldwide outside Greater China. IBI363 is being tested in non-small cell lung and colorectal cancers and shows promise in additional solid tumors, while IBI343 targets gastric and pancreatic cancers. Both are designed to address significant unmet needs in oncology.

Takeda will lead global co-development and U.S. co-commercialization of IBI363 and will have exclusive rights outside the U.S. and Greater China. Takeda also gains global manufacturing rights for IBI363 outside Greater China, co-exclusive with Innovent for U.S. commercial supply. For IBI343, Takeda holds worldwide development, manufacturing, and commercialization rights outside Greater China, with plans to establish U.S.-based manufacturing.

“Our collaboration with Innovent reflects the power of partnerships in oncology,” said Teresa Bitetti, President, Global Oncology Business Unit, Takeda. “By combining innovative science with global development and commercialization expertise, we can advance more options for patients with the potential to address critical treatment gaps. This agreement reflects our deep commitment to developing medicines that enhance and extend the lives of people living with cancer.”

The deal also gives Takeda an exclusive option to license global rights to IBI3001, an early-stage investigational therapy, outside Greater China.

Takeda will pay Innovent US$1.2 billion upfront, including a US$100 million equity investment in Innovent, before the end of its fiscal year on March 31, 2026. The financial impact of the deal has already been reflected in Takeda’s revised forecast announced in October.